Afcons Infrastructure Ltd secures SEBI approval for ₹7,000 crore IPO with proceeds supporting capital expenditures, working capital, and debt repayment.
Afcons Infrastructure Ltd, part of the Shapoorji Pallonji group, has secured approval from SEBI for a ₹7,000 crore IPO. This includes a fresh share issuance of ₹1,250 crore and an offer for sale of ₹5,750 crore by Goswami Infratech Pvt Ltd. The funds will support capital expenditures, working capital, and debt repayment. For FY23, Afcons reported a 14.69% revenue increase to ₹12,637.38 crore and a 14.89% rise in profit to ₹410.86 crore.
September 16, 2024
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